NTL warning on prospects

Monday 10 June 2002 23:00 BST

DEBT-LADEN cable company NTL warned today that its recapitalisation process and the general climate surrounding telecoms companies could make it difficult to win new customers, particularly among small and medium-sized companies. But the group, in Chapter 11 bankruptcy protection as it negotiates its debt-for-equity swap, said it performed to plan in a challenging first quarter.

Revenues were slightly higher at £639m while earnings before interest, tax, depreciation and amortisation doubled to £172m. NTL said it had cut costs by £170m.